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Archive for November 18th, 2008

asos just keeps getting stronger

November 18th, 2008

SMG - designer chic at low slung prices They’re back: last time we reported online clothes monger Asos’ bumper sales it was a bit weird in the current climate. Now it’s the stuff of the X-fliles. While everyone else is firing and crying, Asos has seen sales more than double by 107%, with close to a million customers. Strong sales of cheap threads for the Christmas party season showing no end to the good times.  My favourites, high-shine leggings are also very popular: Asos sold 4,000 over the last four weeks. It recently launched ASOSRed, a discounted designer clearance page, and a maternity range. Half of those million customers are under 25 and, so don’t face mortgages and utility bills, so are more resilient to economic downturns. Asos plans to push into childrenswear in February, as well as offering more premium designer brands alongside Karen Millen, Warehouse and Whistles. It is also looking to expand overseas. We caught up with them at a retail fair recently – everything you need to know about landing a graduate job with them is in this video. I’ll help you catch him, Clarice.

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Banks review bonuses as Citigroup swing axe

November 18th, 2008

Howard. 1997-2008 Bowing to public and political pressure, banks UBS and Goldman Sachs will not pay bonuses to their top executives for 2008, though other employees could still be in line to receive a bonus. At UBS their entire bonus structure has been reviewed so it is now only linked to the firm’s profitability. Other banks are expected to follow suit. A tricky one this: companies like Goldman are renowned for taking over every waking hour of their staff (and some of the sleeping ones too). That hard work seemed justified if it meant you got a bonus so big it meant you could eat swan for breakfast. Who’s going to want to sell their sole now..? Surely some will just be grateful to have a job. US bank Citigroup will have made 75,000 redundant by the time the current job cull is over. Can the last one out turn off the light. Er…and pay the electricity bill.

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